As required I added an PWS station in Weather underground and entered the StationID and Station Key in the AcuRite 5-1 PC and started sharing. The status after a few minutes show Weather Underground Sharing: Failed. Please provide recommendation for a fix

It is not required. If you do not want to transmit your information to Weather Underground you do not need to. It is just an additional feature that we offer. Instead of using your station key try your Weather Underground password. Make sure you are not copy and pasting anything. You want to type everything out.